EURUSD reversed sharply lower last week after failing to close decisively above the broken neckline of the double top formation and the 50% Fibonacci of the downleg from 1.1174 to 1.0988, confirming a trend reversal in the four-hour chart. The trend indicators are also discouraging. The 20-period simple moving average could not rise above the 200-period SMA, and […]

EURUSD reversed sharply lower last week after failing to close decisively above the broken neckline of the double top formation and the 50% Fibonacci of the downleg from 1.1174 to 1.0988, confirming a trend reversal in the four-hour chart. The trend indicators are also discouraging. The 20-period simple moving average could not rise above the 200-period SMA, and […]